Top Crypto Gainers Today on DEXScreener – MATT, LANDLORD, JACKY
After a slight rebound to $60,000, Bitcoin faced selling pressure that caused its price to fall below the $61,000 support zone and further below its previous daily support. Consequently, Bitcoin experienced a drop of about 16%.
This decline was primarily driven by fear, uncertainty, and doubt (FUD) triggered by the continuous sale of Bitcoin by the German government and the potential selloff following Mt. Gox Bitcoin repayment.
At press time, Bitcoin trades at $57,300, while Ethereum hovers around $3,000.
Despite the selling pressure, experts believe Bitcoin could see a consolidation and potential bull rally driven by the upcoming US presidential election between the perceived pro-crypto candidate Donald Trump and incumbent President Joe Biden.
Despite the market downturn, investors are seizing the opportunity to invest in Bitcoin. According to Bloomberg data, spot Bitcoin ETFs witnessed $438M inflows over the past two trading sessions.
On July 8, the total net inflow of Bitcoin spot ETFs was $295 million, the highest inflow in the past 21 days. Yesterday, the German government also sold the largest amount of BTCs in recent times, reaching $915.3 million. Grayscale ETF GBTC had a single-day inflow of $25.0753… pic.twitter.com/Xzw0NANog6
— Wu Blockchain (@WuBlockchain) July 9, 2024
While major crypto assets are showing signs of movement, it’s too early to call a price bottom.
However, opportunities abound in the on-chain markets where newer coins are launched and traded on-chain.
Despite the gains earned from these underdogs, it’s important to stress how risky these on-chain coins are and their potential for fraudulent activities.
$MATT is one of the latest meme coins shaking up the Solana blockchain.
The meme coin claims to be the
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